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PNC Bank giving $5.5M to center for banking technology at CMU

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PNC $62.12 +$0.28

at close on TUESDAY

Tuesday, Jan. 22, 2013, 2:32 p.m.

PNC Bank will contribute $5.5 million over five years to a new center at Carnegie Mellon University's Tepper School of Business that will research technology in retail banking.

CEO James Rohr announced the PNC Center for Financial Services Innovation on Tuesday during a speech at CMU. “Advances in technology and their potential application in financial services underscore the importance of research and education in these areas,” Rohr said. “We are confident that our continued work together will bring tested, secure solutions by introducing new technology and services that will improve the banking experience.”

Sunder Kekre, the Bosch Professor of Operations Management at CMU's Tepper School, was named director of the new center, which also will try to capitalize on new technologies and the effective use of data to advance the functionality of banks and the services they offer to customers, PNC said.

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